PC Jeweller shares rally 55% in a month; what should investors do?

Shares of PC Jeweller Ltd resumed their upward momentum in Wednesday's trade after pausing for a day. Last checked, the stock was trading 2.78 per cent higher at Rs 18.47. At this level, it has risen 55.47 per cent over the past month.

Bourses BSE and NSE have put the securities of PC Jeweller under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

The company's Board is scheduled to meet on July 10 to consider and approve a fundraise through the issuance of securities via preferential allotment.

PC Jeweller posted a solid set of numbers in the June 2025 quarter (Q1 FY26), with standalone revenue surging nearly 80 per cent year-on-year (YoY). The company also reduced its outstanding debt by around 7.5 per cent during the quarter, building on a more than 50 per cent debt cut in FY25, indicating a disciplined approach to financial management.

Some analysts recommended that investors adopt a cautious stance in the near term following the recent sharp rally.

Ravi Singh, SVP of Retail Research at Religare Broking, said the stock faces resistance at Rs 20 and support at Rs 15, advising investors to consider booking profits at current levels.

AR Ramachandran, a Sebi-registered analyst, noted the stock is "bullish but overbought" on daily charts, with the next resistance seen at Rs 19.66. A close below Rs 16.83 could lead to a decline toward Rs 12, he warned.

Conversely, Drumil Vithlani of Bonanza Portfolio struck a more positive tone, suggesting that dips toward the Rs 18.30–18.20 range may offer fresh buying opportunities with targets at Rs 20 and Rs 20.50, provided a stop loss at Rs 17.50 is maintained.

Promoter holding stood at 39.80 per cent as of April 29, 2025, slightly down from the 39.98 per cent reported in the March quarter.